Q: Need sum help undrstdng sum financial & car loan complication as well as some advice and explanations on sum othr
Financial obligation. Is there a way to back out of a car loan I am the co-owner of without impacting the main loan holder or is there a way to get lower payments of even possible help with payments Thru any programs?
A: While filing bankruptcy will release you of the obligation under the car loan, the other borrower will not be relieved and the lender can recall the loan and reposses the vehicle if the other borrower is unable to pay on their own.
Filing a Chapter 13 bankruptcy may result in lower car payments through Modifying the terms of the car loan.
Contact an experienced attorney if you're interested in learning more.
Good luck with your case!
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